(CMA adapted)The process of creating a formal plan and translating goals into a quantitative format is referred to as

Question

Quizplus · Accepted Answer

The process of creating a formal plan and translating goals into a quantitative format refers to budgeting where a company make plans for their revenues, expenses and the resulting profits for a particular period of time. Benchmarking refers to comparing performance with a key competitors or industry standards, cost-benefit analysis refers to evaluating the expected benefits and costs of a project or decision, and value-added analysis refers to assessing the value added to a product or service during production.

(CMA Adapted)The Process of Creating a Formal Plan and Translating